Kardigan, Inc.

Kardigan, Inc. announced the completion of enrollment in its Phase 2b KATALYST-AV trial for ataciguat in patients with aortic stenosis. The primary endpoint, aortic valve calcium, will now be assessed at Week 48, with topline data anticipated in the second half of 2027. This adjustment follows analyses of baseline data and real-world evidence suggesting a longer assessment period is needed for robust results. The company will host an investor webcast to discuss these findings.

Kardigan, Inc. reported a net loss of $116.2 million for the second quarter of 2026, an increase from $57.4 million in the same period last year. For the six months ended June 30, 2026, the net loss was $172.3 million. The company successfully completed its Initial Public Offering (IPO) on June 22, 2026, generating net proceeds of $422.4 million, which significantly boosted its cash position and alleviated prior concerns about its ability to continue as a going concern.

Kardigan, Inc. reported its financial results for the second quarter ended June 30, 2026, alongside significant progress in its clinical development programs. The company ended the quarter with a strong cash position of $660.7 million, following a $460 million initial public offering in June 2026, which extends its cash runway through multiple data readouts and the initiation of Phase 3 clinical trials. While the net loss increased to $116.2 million due to higher R&D expenses of $56.4 million, this reflects the advancement of its three late-stage programs: Danicamtiv, Ataciguat, and Tonlamarsen, all of which have key data readouts anticipated in the first half of 2027.

Kardigan, Inc. filed its Third Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws with the State of Delaware on June 22, 2026, effective immediately prior to the completion of its initial public offering (IPO). These amendments, previously approved by the Board and stockholders, authorize 700 million shares of common stock and 10 million shares of preferred stock. They also eliminate stockholders' ability to act by written consent or call special meetings, while establishing new procedures for stockholder actions and proposals.

Kardigan, Inc. filed an S-1MEF registration statement to increase the aggregate number of common stock shares offered by 1,916,666 shares. This includes 250,000 shares subject to the underwriters' option to purchase additional shares. The filing is an amendment to a previously effective S-1 registration statement (File No. 333-296236) and was made pursuant to Rule 462(b) of the Securities Act of 1933.

Kardigan, Inc. filed a preliminary prospectus for its initial public offering, planning to offer 23,333,334 shares of common stock at an estimated price range of $14.00 to $16.00 per share. The company expects to raise approximately $320.3 million in net proceeds, which will be used to fund the clinical development of its three late-stage cardiovascular therapies: Danicamtiv, Ataciguat, and Tonlamarsen, as well as other R&D and general corporate purposes. Kardigan is a clinical-stage precision therapeutics company leveraging its Prolaio data and analytics platform, but has incurred significant losses and faces substantial doubt about its ability to continue as a going concern.